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live from chicago. this market selling off again today. the market down 5% since president obama was re-elected. add on to that a 200-point selloff today. the dow with a decline of 184 points on the session. that's 1.5%. s&p 500 also down about 5% since the president re-elected. down about 20 points today. nasdaq down 37 points today. that's 1.25%. today, many of the recent winners were the big losers. we have been seeing recently money moving into transportation stocks. today, they got killed. financials also under pressure and tech nothing on the downside. the market seeing red across the board as the fiscal cliff fears escalate today after the president takes a hard line in his news conference earlier this afternoon. joining me now to help break down the trading day and what you should be doing with your money, kwint, quint is joining me. we also have john buckingham of al frank asset management. thanks, everybody, for joining us. first, michelle, let me get your news, the latest on the attack out of israel on hamas. this, of course, another major news story today that we're following and th
to election news. while we could see steep changes on a daily basis from now until year end, he expects the market to firm up by then. peter joins me now along with ben pace, jim key from south texas money management, and our own rick santelli. gentlemen, nice to have you on the program. thanks for joining us. >> thank you. >> how do you navigate this, peter anderson? you have a market that keeps losing steam. you have uncertainty knowing we're not going to know tax rates. certainly until we get information on the fiscal cliff. we're waiting on that. once again, we find ourselves in a holding period. what do you do? >> well, you know, i think that quality is just totally masked right now by volatility. as we get closer to january, it's a beautiful thing. what we will start seeing is convergence of some of the facts in terms of what the solutions will -- the proposed solutions will be, maria. right now i think everybody's just in a holding period. but that -- it takes a lot of courage to do this, but we're telling our clients to stay fully invested at this point because we think this is
market today. just consider this, right before we knew the president was re-elected, the yield on a ten-year note was 175. here we sit at 161. unchanged from yesterday. still it down ten basis points from its last friday close at 171. pretty pitmuch most of the lowe yooel yields are based on uneasiness. fiscal cliff, raising taxes in a slow economy. all of it is coming home to roost. >> mike, we had the president come out saying that he will veto any legislation that allows the tax cuts to be extended for the highest earners. is that what poured water on the rally? >> it didn't hurt. obviously, there was no breakthrough. i think the one thing to take away from today's action was the fever kind of broke a little bit in terms of the market really being hyper actively responding to every little knnuance. i think the market would have liked to see a little more affirmative suggestions that were going to come closer together. i don't think it was something that alarmed everybody, considering the height of panic that built up over a couple days. >> all right, guys. thanks so much. appreciate
." i'm maria bartiromo at the new york stock exchange. the post-election hangover continues on wall street. here's a look at how we're settling out today. we're ending near the lows, in fact, at the lows. down 60 points on the dow industrial average. nasdaq composite, weaker by 20 points. technology one of the laggards here today at 2883. the s&p 500 tonight gave up five points at 1374. we are moments away from quarterly earn from cisco. the company is expected to report a profit for the first quarter of 46 cents a share and revenue of $11.77 billion. let's get to today's market action as we await the numbers. good to see everybody. thanks for joining us. carol, what are you expecting in 2013 under president obama's policies? >> i'm not expecting anything very good, maria. i think that we're going to end up with some sort of a slow down. i think whatever the compromise that ends up being made under this grand bargain, it's going to be something that ends up hurting unemployment. that being said, i think there's always a tale of two markets. from a broader market standpoint, i expect
. the markett down about 5% since the election. we continue to see a deterioration here. the nasdaq gave up about ten points at 2836. the s&p flat on the night, down about 2.25 points. the market closing lower once again today, adding to the losses we have been seeing since the election. is a deal in washington what investors are waiting for to get back into the game? joining me now is ben pace from deutsch back private wealth management, scott collier and our own mandy drury. good to see everybody. ben pace, what is behind this selling, and when will it end? what's your take? >> i don't think it's really economic right now, maria. i think it's pretty political. every pronouncement we've heard over the last four, five days has decreased the likelihood we're going to have a quick resolution of bargaining that has to happen in washington. again, it has to happen. it increases the likelihood that we fall off the cliff for lack of a better term. we still don't think that's over the 50% probability. it was probably 25 to 30 mow. that's why the markets are where they are. they're starting to hit
of time and would make any tax overhaul useless. now that there isn't an election to worry about it is time for all of washington to face reality. take a look at the day on wall street. the dow jones had been down about 45 and up about 35 and finished flat on the session as the composite right about where it began
Search Results 0 to 5 of about 6